How much home insurance coverage do I need to have?

Your home is a high dollar asset that needs to be protected adequately by insurance. When you are looking to insure your Ponte Vedra Beach, FL or North East Florida area home, there are many choices that you will need to make regarding your home insurance. One of the biggest decisions is regarding how much coverage you should have. There are several factors to consider when you are trying to determine your home insurance needs.

Purchase Price and Loan Amount

When you are trying to figure out how much insurance you need, the first factor to consider is how much you paid for the home and how much debt you owe. If you have a mortgage on the property, the lender will require that you have an insurance policy that will easily pay off the outstanding loan balance. However, you will also want to make sure that you have coverage to reimburse your equity in the home if there is a total loss.

Personal Property

You will also want to make sure that you have enough coverage for your personal property. Between clothing, furniture, appliances, and other personal items, you could have tens of thousands of dollars in assets sitting under your roof. You will want to make sure you have coverage for that. More valuable assets may require an additional policy rider. 

If you are looking for a new home insurance policy in Ponte Vedra Beach, FL or the North East Florida area, the team at Palm Valley Insurance, Inc. could help you get into a policy that provides you with the right level of coverage. The Palm Valley Insurance, Inc. team will be able to properly examine your current situation to make sure that you have the coverage you need to have the adequate protection you need to protect your home. 

Benefits of Renters Insurance

Proper insurance is vital for property owners who want to protect their assets against disasters. On the other hand, tenants need to purchase renter’s insurance from Palm Valley Insurance, Inc. to protect their possessions in the event of a disaster or an accident. It is crucial for every tenant to read his or her renter’s insurance policy thoroughly to know the exact events and acts that are covered and up to what amount. Here are some of the benefits of purchasing renter’s insurance.

Affordable

Some tenants in Ponte Vedra Beach, FL are hesitant about renter’s insurance because they imagine it is too costly and perhaps not a priority. It’s very affordable compared to the cost of replacing some of your pricey personal items in your rented home. The cost of renter’s insurance depends on other factors like the amount of coverage you are looking for.

Liability coverage

The insurance policy will protect you in case of any accidents that may occur in your unit. For example, if a guest slips and falls in your unit, the renter’s insurance policy will protect you against liability. The amount of protection you get from the policy will depend on the terms of your policy.

Fire or wind coverage

The renter’s insurance policy will compensate you if your possessions are damaged by disasters such as fires or wind damage. You can receive a replacement cost or actual cash depending on the type of renter’s insurance coverage you purchase. Replacement cost coverages are often more expensive.

Theft coverage

You can rest assured that you will be compensated for losses resulting from a burglary in your Ponte Vedra Beach, FL home. The amount and type of coverage that you get also depends on the individual policy you select. However, it is important to remember that a renter’s insurance policy doesn’t cover everything. Therefore, you may consider buying separate insurance for your valuable items such as fine art pieces or comic books.

If you live in a rented home, consider buying enough renter’s insurance to protect your possessions. Contact one of our local agents at Palm Valley Insurance, Inc. to guide you through the process of choosing a renter’s insurance policy that suits your lifestyle.

 

Getting the Right Motorcycle Insurance in Florida

When you buy a motorcycle in Ponte Vedra Beach, FL, you may have heard that you don’t need insurance in order to register it. This is not true. Your agents at Palm Valley Insurance, Inc. want to remind you that you are required to carry liability insurance, but you may not have to pay for additional personal injury protection. However, that may not be a good idea. Let’s find out why.

Florida Requires Only $10,000 Personal Injury Protection

When you register your motorcycle, you will have to provide proof that you have medical insurance or a motorcycle insurance policy that will cover your injuries up to $10,000 per accident. This may make you think that you can get away with a less expensive insurance policy, but if your health insurance covers only the bare minimum, you could end up paying even more in the long run.

One Accident Can Wipe Out Your Savings

If you wipe out on the road and need surgery to take care of your injuries, it’s a good bet that your medical bills will run well over $10,000. It may only be a broken leg, but if the doctors need to place screws to set the bone, you will watch your ER bill go through the roof. How are you going to pay for the medical care? Your rent?

Increase Your PIP Coverage for Peace of Mind

Even if you carry health insurance, it is a good idea to talk to your agent at Palm Valley Insurance, Inc. about increasing your PIP coverage to be able to cover a visit to the hospital. That way you can continue to enjoy the sunshine in Ponte Vedra Beach, FL even if you are out of commision with an injury, instead of worrying how you will cover the bills. 

Umbrella insurance coverage options in Ponte Vedra Beach FL

Our increasingly litigious society demands that we have sufficient coverage for our assets and emergency situations. The standard home, boat, or auto insurance coverages are never adequate particularly in grievous circumstances, and that’s why at Palm Valley Insurance, Inc. in Ponte Vedra Beach, FL, we always recommend that residents purchase umbrella insurance. 

Extra liability coverage or umbrella insurance shields you from lawsuits and other comprehensive coverage options that may not be covered in the standard traditional insurance coverage. Umbrella insurance includes the following:

Bodily injury

Bodily injury liability covers the medical expenses of other people when you are at fault. For example, injuries sustained by another person through an accident that you caused or when you accidentally hit a pedestrian. 

Property damage

Property liability pays the cost on losses as a result of:

  • Car and property damaged due to accidents.
  • Damage made by kids or pets such as breaking a neighbor’s glass window.
  • Damage made from your children on school property.

Rental/landlord liability

This coverage is primarily useful to landlords who may get sued by their tenants or visitors in the building due to various reasons surrounding their property like falls caused by cracked patios.

Libel and slander

Libel or slander liability coverage protects you from illegal lawsuits by another person over something that you did, said, or wrote.

Umbrella insurance in itself is not self-sufficient and can only be used once your home or auto insurance coverage is inadequate to cover all costs. Break the chains of home and auto insurance constraints using umbrella insurance today. Visit us at Palm Valley Insurance, Inc. in Ponte Vedra Beach, FL for all your insurance obligations or new policy discussions. 

 

Does Smoking Affect My Life Insurance?

As a resident of Ponte Vedra Beach, FL, you have access to many life insurance policies including; whole life, universal life, variable universal, variable life, level premium term, and annual renewable term insurance. At Palm Valley Insurance, Inc., we offer quotes for life insurance coverage depending on individual needs. However, smoking can have a big effect on your life insurance rates. Smokers can be charged up to four times more than non-smokers for similar life insurance coverage.

How much smoking would make an insurance company consider you a smoker?

According to insurance companies, you are a smoker if you have smoked in the past year. It doesn’t matter whether you are a chain smoker or someone who only smokes on special occasions. Unfortunately, insurance companies treat all smokers the same way.

Lying about your smoking or failing to disclose it can be dangerous. It may be considered insurance fraud and an insurance company can deny your beneficiary’s payment after you die. Remember that most insurance companies will not just take your word. They do their own investigations. Even if they do not find any evidence of you being a smoker right away, it may come up in future.

If you quit smoking, your life insurance premiums may go down after some time. The length of time it takes depends on your insurance company.

How Should A Smoker Find The Right Life Insurance Company?

If you are a smoker in Ponte Vedra Beach, FL, contact Palm Valley Insurance, Inc. We will help you find the life insurance company that offers enough coverage at the best prices for you. We strive to offer you policies that meet and surpass your expectations. You may visit our office or contact us at 813-702-5158 to discuss a new quote.

Why Auto Insurance is Mandatory

No matter where you live in the United States, you are required to have a sufficient amount of auto insurance to stay on the road. Driving in Ponte Vedra Beach, FL is no exception, and it is not up to the local government to change such rules. If you would like a reliable auto insurance policy to stay compliant with the law, please consult with Palm Valley Insurance, Inc. to see if they have what you need.

The discussion for obligatory insurance for all drivers on public roads has pretty much been wrapped up for nearly 100 years. Since it had always been apparent that cars will crash into each other eventually. Some states had already implemented mandatory insurance in the 1920’s. Fast forward to modern times, nearly every part of the country has mandated a minimum amount of liability insurance.

Protecting The Property of Other People

Car insurance isn’t really about protecting ourselves as much as other people on the road. If you smash into someone’s car, somebody must be able to cover the damages or injuries. Since most people cannot cover such costs on the spot, insurance exists to pay for such emergencies so the victim receives just compensation.

Protecting The Driver

Including collision insurance with your policy, you are protected against theft, vandalism, and other forms of costly damages. Imagine if you were a rebel without insurance. Even if you never get caught, you won’t save any money if such disasters happen to you and you must pay for them out of your pocket.

Driving without insurance is irresponsible, and it is now common sense for the majority of people. If you are shopping around for auto insurance in the Ponte Vedra Beach, FL area, consulting with Palm Valley Insurance, Inc. may save you a bundle on your new policy.

Can Outdoor Security Lights Help your Insurance?

In Ponte Vedra Beach, FL, the agents of Palm Valley Insurance, Inc. serve many of the surrounding communities by offering sound advice on how to keep their insurance costs stable. Homeowners and renters alike can take several steps to keep their insurance premiums low while maintaining an adequate amount of coverage. Security lighting is one of the easiest and most effective ways to protect your home from unwanted intruders.

Landscape and Security Lighting

Strategically placed landscape and security lights can illuminate many of the most commonly used areas where intruders try to gain access to your home. Placing lights near doors and pathways will make it almost impossible for someone to make it up to the door without being seen. Security lights are often set up with timers that turn them on at dusk and off at dawn, but they can also be set up so that the homeowner turns them on whenever they want.

Minimizing Your Risk

Landscaped areas are not meant just to beautify your home. Properly designed landscaped areas that are placed near windows or patio entrances can make it extremely hard for a predator to gain access to your home. Motion activated lights that are strategically placed within the landscaped area offer an additional layer of defense.

In Ponte Vedra Beach, FL, homeowners can find out many ways to reduce their insurance costs simply by asking a few questions. Call the agents of Palm Valley Insurance, Inc. today to find out how they can help you protect your home and lower your insurance costs. Whether you own or rent your property, it’s up to you to do everything you can to keep your home beautiful and safe.

Top Little-Known Benefits of Renters Insurance

There are numerous benefits to renting over buying. In many ways, for example, renters are more protected from possible accidents, trouble with plumbing or electricity, and other upkeep needs. Still, there are certain disastrous events that won’t be covered by your landlord or your landlord’s insurance. And in these situations, renters insurance is the only thing standing between you and a complete loss of your belongings or finances.

This is what renters insurance is most known for. It covers your possessions and belongings in the event that a disaster listed in your policy occurs: lightning, water damage, theft, smoke and fire, vandalism, etc. But what about other benefits? Saving your belongings isn’t all your renters’ insurance can do as it turns out!

Here are some of the lesser-known benefits that you can look forward to — depending on the particular plan you choose.

1. Medical expenses in the event that guests are injured

If a guest of your rented home ends up injured on your rented property, renters insurance may pay the medical expenses for that individual.

2. Legal costs in the event of being sued

Renters insurance will hopefully satisfy an injured guest by paying their medical bills, but if that individual still decides to sue you for personal injury damages, your renters’ insurance may foot the legal bills.

3. Hotel stays after a terrible accident occurs

If your apartment building burns down in a fire, your renters’ insurance may also pay for you to have a place to say — a hotel, for example — while you look for a new place to live or get back into your old place.

4. “Off-premises” belongings

If your policy states so, your renters’ insurance may offer protection for your belongings even while you are “off-premises” or away from your rented home.

Looking for Coverage in North East Florida? Contact Palm Valley Insurance, Inc.

At Palm Valley Insurance, Inc., we are proud to serve renters in North East Florida with comprehensive, high-quality renters insurance policies. If you are interested in renters insurance in the area, one of our agents would be happy to meet with you to discuss your policy options.

Give us a call today, or feel free to stop by our office. We look forward to working with you and connecting you with the perfect renters’ insurance plan for your needs!

Safety Tips for Motorcycle Enthusiasts

The Ponte Vedra Beach, FL area is a great place for motorcycle riders. The natural landscape makes a beautiful backdrop for riding in every season. Palm Valley Insurance, Inc. wants to make sure you stay safe while you’re enjoying the Florida roads. Use these tips to prepare for your next trip.

  • Florida state law requires all motorcycle riders to wear a helmet. Passengers must also have the correct headgear. Ask the sales associate at your local sporting goods store to help you select one that fits properly.
  • Safety gear is more than helmets. Glasses, gloves, and the right clothing reduce serious injury during accidents and slide-outs.
  • Know the limits of your body and equipment. Don’t use road bikes to do tricks. Always adjust your seat and mirrors to comfortable positions before starting your ride to reduce the strain on your body.
  • Visually inspect the tires, mirrors, and lights before each ride. Follow a regular maintenance schedule to prevent damage that can cause accidents or interrupt your ability to control your motorcycle.
  • Instead of relying on the mirrors, turn your head to get a good look at intersections and during lane changes. Helmets can sometimes obstruct peripheral vision. Moving your head ensures you get a full view before proceeding.
  • Keep an eye on the road ahead for train tracks, curves, and unstable conditions that can cause you lose control. This is especially important in rainy and wet conditions.
  • Stay calm while riding in traffic. Road rage can be deadly for motorcycle riders. Steer clear of aggressive drivers and always follow the rules of the road.

Finally, make sure you have the right motorcycle insurance before you take off on your next adventure. Palm Valley Insurance, Inc. provides motorcycle insurance for riders in the Ponte Vedra Beach, FL area. Contact our representatives to find out more about protecting your motorcycle with insurance.

What Does Umbrella Cover?

For some, there is some confusion surrounding umbrella insurance. Based on the name, you would assume that it covers everything you own under one big umbrella. The truth is… that’s sort of what it does, but not quite. If you want to call Palm Valley Insurance Inc. for an umbrella policy, you should know what that means, first.

The long and short of it is: You still need to keep your standard homeowner’s policy on your house in Ponte Vedra Beach, FL, even if you have an umbrella policy. You need to keep your car insurance policy, your business policies and so on. Umbrella policies are not a replacement for conventional insurance plans, but supplemental coverage for everything that you already hold insurance policies for. If your car or home suffers damages beyond what your basic policies cover, then you dip into a single umbrella policy to make up the difference.

Well, it covers almost everything. Umbrella insurance won’t always cover specialty insurance items. If you own an exotic car or your business happens to be managing and coordinating dangerous stunts for Hollywood films, not every insurer is going to cover that with an umbrella policy, but for most of us, umbrella will cover just about everything we own.

Umbrella coverage simplifies a lot of the problems you have with insurance. You don’t have to try and guess which policy needs to be extended, you can simply call Palm Valley Insurance Inc., get a single new policy as a sort of safety net (or, well, an umbrella) and rest easy, knowing that if your current auto or home plan runs out, then you have the umbrella plan to lean on.